“The market adjusted more dramatically than we anticipated,” Stark said. “If you would have told me, this market would have gotten hit 67 percent in two years, I would have said you have no idea of what you’re saying. No one expected two-thirds of the market to go away, and now we have to work through it, and that’s what we are doing.”
Prudential Americana Group in Las Vegas, Nevada files for Chapter 11 bankruptcy.